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From a hiring perspective, no. No T1 law firms give any value to Indian LLMs and there is a negligible framework for hiring coordination in most of the top 5 NLUs (which suggests that that's the scene everywhere in India). For T2-T3 law firms, it's mostly a question of securing internships and performing there, but most top law firms would be wary of having interns who have cleared the bar exam.
And specifically in competition law, I can confirm that no half-decent practice is likely to have openings for an Indian LLM student on merit. If you have contacts, well....then you don't really need an LLM anyway.